White Mountains Stock Skyrockets on $1.75B Bamboo Deal and Major CEO Shake-Up
White Mountains shares surged about 9.3% to $1,820 midday Oct. 3 after announcing a $1.75 billion sale of its Bamboo insurance platform to CVC Capital. The deal brings in roughly $840 million in cash and adds about $310 to book value per share. Year-to-date, WTM stock remains down 5.7%. CEO Manning Rountree will retire at year-end, with President/CFO Liam Caffrey set to succeed him.
